President of the African Development Bank, Akinwumi Adesina, has revealed that Nigeria will gain significantly from a $4.4bn investment aimed at expanding the Special Agro-Industrial Processing Zones across all 36 states and the Federal Capital Territory.
In an interview with Arise TV on Monday, Adesina said agricultural transformation is critical to fostering broader economic growth.
The SAPZ programme, established in 2022, seeks to transform the agricultural sector by establishing agro-processing clusters.
These zones will focus on boosting agricultural productivity, promoting value addition, and creating employment opportunities, especially in rural areas.
“Transformation without agricultural transformation is incomplete because agriculture touches the lives of people at the grassroots level,” Adesina remarked.
He elaborated that the SAPZ initiative seeks to create economic zones strategically located near farmers, equipped with vital infrastructure, including power, water, roads, digital connectivity, and irrigation systems.
These facilities will serve as magnets for agro-processing companies, reducing post-harvest losses while generating jobs.
“These zones will attract companies that will purchase raw materials from farmers for processing, thereby creating a new ecosystem of wealth in rural economies,” Adesina explained.
